CIBC Private Wealth Group LLC Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

CIBC Private Wealth Group LLC cut its stake in Netflix, Inc. (NASDAQ:NFLXFree Report) by 18.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 33,503 shares of the Internet television network’s stock after selling 7,566 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Netflix were worth $16,312,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NFLX. WealthPlan Investment Management LLC lifted its stake in Netflix by 98.5% in the 3rd quarter. WealthPlan Investment Management LLC now owns 897 shares of the Internet television network’s stock worth $339,000 after purchasing an additional 445 shares in the last quarter. Soltis Investment Advisors LLC boosted its stake in Netflix by 18.7% during the third quarter. Soltis Investment Advisors LLC now owns 1,015 shares of the Internet television network’s stock valued at $383,000 after buying an additional 160 shares during the period. Janney Montgomery Scott LLC boosted its stake in Netflix by 7.7% during the third quarter. Janney Montgomery Scott LLC now owns 58,912 shares of the Internet television network’s stock valued at $22,245,000 after buying an additional 4,225 shares during the period. AMG National Trust Bank grew its position in Netflix by 12.9% during the third quarter. AMG National Trust Bank now owns 1,253 shares of the Internet television network’s stock worth $473,000 after buying an additional 143 shares in the last quarter. Finally, Platform Technology Partners raised its holdings in shares of Netflix by 5.9% in the 3rd quarter. Platform Technology Partners now owns 755 shares of the Internet television network’s stock valued at $285,000 after acquiring an additional 42 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insider Transactions at Netflix

In other Netflix news, Chairman Reed Hastings sold 19,943 shares of Netflix stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $633.58, for a total transaction of $12,635,485.94. Following the sale, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $36,114.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Gregory K. Peters sold 5,352 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $625.00, for a total value of $3,345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,181,250. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 19,943 shares of Netflix stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $633.58, for a total transaction of $12,635,485.94. Following the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at $36,114.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,994 shares of company stock valued at $42,036,266. Company insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Oppenheimer reissued an “outperform” rating and set a $725.00 price objective on shares of Netflix in a report on Friday, April 19th. Morgan Stanley boosted their price target on shares of Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. KeyCorp increased their price target on shares of Netflix from $580.00 to $705.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Sanford C. Bernstein lifted their price objective on shares of Netflix from $490.00 to $600.00 and gave the stock a “market perform” rating in a report on Friday, April 19th. Finally, Rosenblatt Securities increased their target price on Netflix from $540.00 to $554.00 and gave the company a “neutral” rating in a research note on Friday, May 17th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $632.00.

Get Our Latest Research Report on Netflix

Netflix Trading Up 3.0 %

NASDAQ NFLX opened at $650.27 on Thursday. The stock has a market cap of $280.27 billion, a P/E ratio of 45.13, a price-to-earnings-growth ratio of 1.36 and a beta of 1.26. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $664.25. The stock has a 50 day simple moving average of $610.95 and a two-hundred day simple moving average of $560.55. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07.

Netflix (NASDAQ:NFLXGet Free Report) last announced its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The company had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.88 earnings per share. On average, analysts forecast that Netflix, Inc. will post 18.31 earnings per share for the current year.

Netflix Company Profile

(Free Report)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.

Recommended Stories

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLXFree Report).

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.